Neuropathic pain is mostly a chronic type of pain. It can be caused due to an infection or injury, although it typically occurs from a progressive, chronic, nerve illness. There are four types of the most persistent reasons of neuropathic pain which are limb loss, illness, injury and infection. There is a vast range of neuropathic pain related symptoms like chilly temperatures, induced pain which is aroused due to situations that are usually not painful, spontaneous pain which arise without stimulation.
U.S. Neuropathic Pain Treatment Market – Impact of the Coronavirus (COVID-19) Pandemic
On December 31, 2019, the coronavirus (COVID-19) outbreak was first reported in Wuhan, China. On March 11, 2020, COVID-19 was declared as a pandemic by WHO. More than 633 million COVID-19 cases and 6.59 million deaths due to coronavirus were reported till November 17, 2022, globally, as per the Coronavirus (COVID-19) Weekly Epidemiological Update by the WHO.
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Impact of COVID-19 on Demand and Supply of Neuropathic Pain Treatment
The financial condition of businesses across all industries which includes the private healthcare industry, have been impacted by the Covid-19 pandemic lockdown in various nations across the globe. The complete supply chain of the healthcare sector was affected by the COVID-19 pandemic majorly due to stringent lockdowns in several regions. The economy of different regions worldwide, has been impacted by the COVID-19 pandemic in three major ways; 1) by directly impacting demand and production; 2) by creating disturbance in channels of distribution and 3) by causing financial impact on financial markets and companies. Various nations like Singapore, Indonesia and Thailand are facing issues with the distribution and transportation of healthcare products.
However, various patients who were infected with COVID-19 suffered from acute neurological disturbances too, like issues with pain management and peripheral neuropathy. Thus, doctors prescribe medication like antidepressants, NSAIDs and non-opioids to treat the symptoms along with COVID-19. For example, in 2020, as per estimation, in the U.S., the number of prescriptions for ibuprofen, a Nonsteroidal Anti-Inflammatory Drug, was 16,533,209, as per a data published on ClinCalc LLC, in September 2021.
The market of the U.S. neuropathic pain treatment was valued to be of US$ 2,064.9 million in 2022 as per estimation and is expected to show 4.8% CAGR during the forecast period of 2022-2030.
U.S. Neuropathic Pain Treatment Market- Key Drivers
The growth of neuropathic pain treatment market in the U.S. is estimated to be driven by the rising frequency of chronic diseases like heart diseases, cancer, etc. during the forecast period. Almost 1,898,160 new cases of cancer and 608,570 deaths due to cancer were estimated to be reported in 2021 in the U.S. as per an article published in January 2021 by PubMed. Moreover, in the U.S. almost 1.2 million people are infected with have HIV as per a data published in September 2022 by HIV.gov.
During the forecast period, the growth of the market is expected to be boosted by approvals for neuropathic pain treatment and growing launches of products. For example, approval was provided by the U.S. Food & Drug Administration in August 2020 for Qutenza which is a capsaicin drug to treat Diabetic Peripheral Neuropathy of the feet, to the U.S. subsidiary of Grünenthal which is a Germany-based pharmaceutical company and Averitas Pharma which is a specialty pharmaceutical company concentrating on non-opioid pain management drugs. A prescription-strength capsaicin is directly delivered to the skin using this cutaneous patch.
U.S. Neuropathic Pain Treatment Market- Restraint
During the forecast period, the U.S. neuropathic pain treatment market growth will be obstructed due to the side effects linked with peripheral neuropathy medication. For example, feeling sick, feeling drunk or vomiting, tiredness, weight gain, constipation, dizziness etc. are the usual side effects linked with peripheral neuropathy medication. Moreover, peripheral neuropathy medication may cause some serious side effects like blisters, hives, rash hoarseness, difficulty in breathing or swallowing, loss of consciousness, changes in heartbeat etc.
U.S. Neuropathic Pain Treatment Market – Competitive Landscape
The key operating players in the U.S. market of neuropathic pain treatment are Biogen, Vertex Pharmaceuticals Incorporated, Asahi Kasei Corporation, LEXICON PHARMACEUTICALS, INC., NeuroBo Pharmaceuticals, Inc., Lupin Limited, Averitas Pharma, Inc., Cipla Inc., Pfizer, Inc., Dr. Reddy’s Laboratories Ltd., Johnson & Johnson, Eli Lilly and Company and Teva Pharmaceutical Industries Ltd.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 U.S. Neuropathic Pain Treatment Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: U.S. Neuropathic Pain Treatment Industry Impact
Chapter 2 U.S. Neuropathic Pain Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 U.S. Neuropathic Pain Treatment (Volume and Value) by Type
2.3 U.S. Neuropathic Pain Treatment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 U.S. Neuropathic Pain Treatment Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 Company Profiles and Key Figures in U.S. Neuropathic Pain Treatment Business
Chapter 6 U.S. Neuropathic Pain Treatment Market Forecast (2023-2030)
Chapter 7 Conclusions
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